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How Digital Business Owners Can Find Success

  • Highlights

  • Focus on sales with a strong social media marketing strategy

  • Know your target audience and customers

  • Create consistency in goods and services to build loyalty

  • Have a trained and efficient workforce for better output

Owning a digital business means striving to adapt to new technology and strategies. This will help you offer unique products and services to your consumer base. But, to do this, you must focus on innovation and leverage SEO and other related digital marketing services. Here are some ways in which a digital business owner like you can find success.

1. Focus on sales with a strong social media marketing strategy

Sales drive the success of any business enterprise. After all, the value of your product is nothing if you can’t sell it. So, deploy a strong digital strategy that focuses on sales. According to Forbes, friends’ social media posts drive 81% of customers’ purchase decision. Another Hubspot report indicates that 71% consumers are more likely to buy a product on the basis of social media referrals.So,social media does the job of a salesman and has the potential to influence each of your customers.

It is important that you have a digital sales team in place. Build a team of social media content creators, strategists, and designers, along with a well-thought-out marketing budget, funded by a small business loan, to push your products or services on digital platforms.

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2. Know your target audience

For a digital business, identifying the target audience is the key to success since your entire communication is driven by the needs and habits of a particular demographic. Remember that while your message may be perfect, it must be relevant to your audience. After all, people are likely to buy products only if they feel that it is relevant to them. Start by asking yourself these questions:
- Who are the people who want to buy your product?
- What is it that they want?
- What do they care about?
- How can your product make their lives easy or solve their problems?
Find the answers to these questions and you’ll have a good place to begin. Next, you can make a start by talking to people or doing market surveys. Know your audience’s demands, aspirations, and expectations. Conducting these consumer studies will give you all this information that is otherwise inaccessible to you. This exercise is time-consuming and expensive, but it ensures that all your marketing and advertising efforts bear fruit.

Additional Read: How to Setup Your Own Trading Business

3. Communicate with your customers

With most businesses selling online, it is of utmost importance to find new and effective ways to communicate with your consumers. Most of the times, your audience may find the information provided on your website or social media pages to be insufficient or uninteresting. Hence, you should always look at tapping new routes for effective, memorable communication. For example, if you find that your tweets are not getting you the engagement you predicted, you can come up with a video strategy. You can curate and create video content that is engaging, informative and stays in the mind of the consumer. This increases your brand’s value and ensures that customers remember it amidst all the digital clutter.

Grow Your Business With Bajaj Finserv Machinery Loan

Dos and Don’ts when applying for a Business Loan

Business loans from Bajaj Finserv are designed specially to help growing businesses meet their financial requirements. Easy to apply for and hassle-free to avail, these loans come with several unique benefits that make them the ideal mode of business finance for small and medium sized enterprises. However, when applying for a business loan, there are certain dos and don’ts that you should keep in mind, in order to ensure that your application is processed smoothly. Here, we tell you what they are.

Dos and Don’ts when applying for a Business Loan

4. Create consistency with 360° online presence

Since your consumers may find out about your business through different channels, it is important for you to maintain consistency in terms of branding, tonality, and imagery. For example, a consumer who sees a Facebook post about your business should find some content uniformity when he visits your website. This helps build trust and ensures that your consumers think of your business as reliable. To further widen your net to reach your target audience,

also make sure you are present on every channel that your audience is present on. This may mean that you have a presence on Facebook, Instagram, Twitter, LinkedIn, YouTube and market via Google AdWords, email and SEO and SEM. Consider taking a business loan to fund these activities on a regular basis.

Additional Read: How to Prepare Your Organisation for a Business Loan

5. Hold boot camps to train your staff

In the world of digital business, not only are there huge leaps in technology and data analytics, but there are also specialised ways of communicating with your customers. This makes it imperative for your business to hold regular training sessions for everyone in the organisation, be it new recruits or old-timers. These courses and workshops act as refreshers, help boost knowledge and align all your employees. This way, you will be able to work to achieve a common business goal and ensure that all your efforts are in the right direction. You can conduct these sessions in-house or as an off-site. You can invite stalwarts from your industry, and colleagues pioneering new techniques and technology to give your employees a crash course. For example, if you want to experiment with virtual reality in the future, you can hold a session to explore the technology and see how players in your industry use it to get your staff excited and educated.
Implementing these strategies will help your digital business gain a prominent position in the market. It will also help you communicate clearly with the target audience and encourage brand loyalty.

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